Construction of suites at Lustica to start by end-2013 - Investment worth EUR 90 million

(Lustica)

All conditions are met for the Orascom company to begin construction works in the marina zone at Lustica, so that the construction of infrastructure facilities and suite buildings worth EUR 90 million should commence by the year's end, the Montenegrin government said in a release.

According to the release, this project was the topic of a meeting between Montenegrin Prime Minister Milo Djukanovic, Chairman of the Orascom Executive Board Samih Saviris, Orascom Chief Executive Officer Gerhard Nieslein and Lustica Development CEO Samuel Mayer.

- The meeting was an occasion to analyze the previous rate of work on the valorization of locations at Lustica Peninsula, where the Orascom Group should start building a magnificent tourist complex - the release reads.